Insurance Blog
Why Life Insurance? 8 Things Your Policy Covers
Life insurance 1 is something people in many different situations and stages of life should consider.
Even knowing this, you may still wonder why life insurance would be a good fit for you. So below we broke down the kinds of expenses life insurance can cover. You and your loved ones will have greater peace of mind knowing exactly how life insurance can play an important role in your future.
8 Things Life Insurance Can Cover
An income stream
Your family depends on your income to meet daily needs like food, medical care, utilities, car payments and much more. If you pass away without a means for replacing that income, their current standard of living could be in jeopardy. It’s especially important for single parents to have a plan in place to provide for their child(ren). An affordable option is ERIExpress Life: it’s easy-to-get with a simple application process, no physical medical exam2 and a faster approval time.
A mortgage
Could your family afford your home’s mortgage without your paycheck in the picture? If not, your family could face losing the house they love. Having to move could also mean changing school districts and moving away from friends and loved ones during an already difficult time.
A college loan
College tuition has grown faster than inflation—and so has student loan debt. Many private lending institutions do not forgive education loans in the event of death. That means the debt may reduce the amount of assets available to pass to the beneficiaries of a deceased student’s estate. It could also trigger repayment obligations for anyone who agreed to be a cosigner on the loan.
Your good health
You’re more likely to be in better health when you’re younger, making life insurance a lot more affordable. None of us knows what’s in store, so there’s never a better time to protect your life and loved ones than now. By adding a Guaranteed Insurability Option rider (GIO)3, you can lock in your great rate and health. This helps protect your insurability in the event the unexpected happens, like it did for one young woman after a serious health diagnosis.
A child’s needs
The U.S. Department of Agriculture says it costs $233,610 to raise a child who was born in 2015, although more recent numbers from the Brookings Institution put the cost at about $310,600. Making sure there’s enough there for each child is something both employed and stay-at-home parents should consider.
A business
The right life insurance is critical if you own a business. This is especially true if a business has partners. If one passes away, it is advantageous to have funding in place for the surviving partner to buy the deceased partner’s interest in the business. Funding also needs to be in place to help a business survive after a key partner passes. Finding the right person may take time and resources the business may not have without life insurance. That’s why Key Person Life Insurance and Business Continuation coverage is so important.
A retirement
According to Fidelity, you should aim to save 10 times your annual pay to retire at age 67. (You’ll need even more if you retire earlier.) Options like annuities and a Traditional or Roth IRA can help you easily prepare for retirement and help provide for your surviving spouse, if needed. With an annuity, you can collect a steady income stream in retirement to help cover regular expenses including life insurance premiums.
Funeral expenses
According to a 2021 NFDA study, the median cost of a funeral is almost $9,500. While cremation costs less – around $7,000 – and is becoming a more popular choice, it’s still a hefty expense, especially if the deceased was unprepared. Families without enough funds are forced to cut back on the service, ask friends and family for donations or turn to crowdfunding.
Protection for Life
Life insurance needs vary from person to person. If you’re interested in learning which one is right for you, contact a knowledgeable advisor like an ERIE agent in your community. They can help you identify which priorities life insurance can help you plan for, and help you find the right protection at the right price.
ERIE® insurance products and services are provided by one or more of the following insurers: Erie Insurance Exchange, Erie Insurance Company, Erie Insurance Property & Casualty Company, Flagship City Insurance Company and Erie Family Life Insurance Company (home offices: Erie, Pennsylvania) or Erie Insurance Company of New York (home office: Rochester, New York). The companies within the Erie Insurance Group are not licensed to operate in all states. Refer to the company licensure and states of operation information.
The insurance products and rates, if applicable, described in this blog are in effect as of January 2024 and may be changed at any time.
Insurance products are subject to terms, conditions and exclusions not described in this blog. The policy contains the specific details of the coverages, terms, conditions and exclusions.
The insurance products and services described in this blog are not offered in all states. ERIE life insurance and annuity products are not available in New York. ERIE Medicare supplement products are not available in the District of Columbia or New York. ERIE long term care products are not available in the District of Columbia and New York.
Eligibility will be determined at the time of application based upon applicable underwriting guidelines and rules in effect at that time.
Your ERIE agent can offer you practical guidance and answer questions you may have before you buy.
Posted on 23 July 2024 | 9:00 pm
Quick Ways to Spot Phishing Messages Targeting Your Business
Gone are the days when phishing attempts were easy to identify and limited to only emails. While malicious messages are nothing new, they’re becoming more sophisticated and harder to pick out from legitimate business communications. They are also coming at us through texts, social media chats and even phone calls.
A few simple actions with one of these messages can develop into a problem that spreads quickly across digital channels and devices, but there are things that you can do to defend against phishing attacks and resources that can help.
Vice President & Corporate Information Security Officer Jamie Neumaier knows a lot about tackling security threats. Jamie manages an information security team that works to ensure the people and systems at Erie Insurance stay as safe as possible. He answered questions about phishing scams targeting businesses and offered some useful security tips.
What is Phishing?
Phishing is a malicious activity in which criminals try to gain access to user’s information, data or devices. The goal is to get you to act without taking a moment to think, and when you do, the phishers may:
- Gain access to data and information, which they can exploit.
- Install malware on your system.
- Prompt you to reveal your personal financial information for purposes of stealing money or your identity.
- Access your email and send other malicious messages to your contacts, to exploit others.
Are Businesses Especially Vulnerable to Phishing Scams?
Yes. With more work being conducted digitally, businesses of all sizes are susceptible to attacks. Attackers also assume that small businesses do not spend a lot of money or effort on their security measures, making them a potentially easier target.
Phishers can easily find your contact information online and are counting on employees to at least open the email because you’re in a business of being responsive.
Phishing messages have also grown in sophistication, so it’s easy to be convinced to visit a malicious website or download an infected file that comes in a message that looks legitimate. If the “threat actor” happens to call, they can be very convincing in having you follow their detailed instructions in providing them your valuable information or installing their malware.
How do You Spot a Phishing Attack?
Phishing messages that are poorly written, offer you large amounts of money or ask you for financial assistance have been common for a long time. Most of us know not to open, click or respond to these messages. As mentioned above, phishing attempts aren’t limited to emails either. Hackers now use phone numbers like your mobile number to call you and attempt to have you reveal sensitive information. They may send you text messages as well.
More recently, phishing messages are being designed to look like other emails that you might receive. They may appear to be from someone you trust like a bank, friend, software provider, retailer or vendor, but usually, the timing of the messages is unexpected.
For instance, one common technique is for a hacker to gain access to an email account through a phishing attempt, then access the account and reply to a real email conversation with a malicious link. So, when the recipient receives this email, it looks like a continuation of an earlier conversation, but it asks the recipient to download a document or enter their credentials.
How Can Phishing Attacks be Prevented?
In the course of day-to-day business between you, your employees, customers, and other consumers in general, know what you’re working on. If you receive a message, phone call or email that is unexpected or seems even just a little bit off, verify the validity of the message before taking action. Call the person who appears to have the message and ask if he or she sent it. If the answer is no, it’s a malicious message.
Other Things You Can Do:
- Enable multi-factor authentication (MFA) services on as many things as you can, such as your email. If you happen to fall for one of the phishers’ tricks, having this additional layer of protection significantly helps reduce their chances of taking over your email or other targeted accounts.
- Keep your software and devices up to date. The latest updates for Microsoft Office products, operating systems, third-party applications, such as Adobe Reader and smartphone operating systems, contain patches that protect against the latest security issues.
- Hover your cursor over a link in an email to show the URL. If it looks suspicious, don’t click on it.
- Use a modern endpoint protection software on your devices. They’re often provided by common and well-known security brands such as McAfee and Norton. Microsoft also offers endpoint protection for Windows and other applications.
- Always back up your data, so that you can get back to business as quickly as possible should you fall victim to an attack. Test your backup processes periodically to ensure they are working as expected.
- Educate your employees on good cybersecurity practices like how to identify phishing attempts and spam messages.
- Look at the extension on Microsoft Word attachments. Most users have updated their Microsoft products so that Word documents end with .docx. If you see the antiquated .doc extension, question it.
Also, be aware that if you’re hit with an attack, you may not know immediately, and the first indication may be that your customers receive an unexpected message from you. Unfortunately, a customer calling to verify something you sent (but didn’t intend to) could be when you know you’ve been affected.
If customers call asking if a message is legitimate, and after you confirm whether you sent that email, offer them the same advice you use in your own business operations.
- Did the customer expect to get that email?
- Does the link or URL direct them to a legitimate, expected website address?
- Does it ask them to open a suspicious document that they didn’t expect?
- Does it threaten to disable access unless the user ID and password are given?
Answering those questions can help you both determine whether the message is safe.
Phishing is continuously changing and evolving as perpetrators adopt new techniques and forms, so it’s essential to have a good security plan in place and watch out for emerging attacks to help protect your business. A well-trained team that knows how to spot a suspicious message can also be a great defense against phishing attacks by enabling them to respond to an attack instead of just reacting with a quick action.
The Right Protection for Your Business
Contact a trusted insurance advisor like an ERIE agent to learn about some of the smart and affordable ways to protect your business. For instance, Cyber Suite from ERIE1 can help you overcome an incident in which your customers’ or employees’ nonpublic, personal information is compromised and you have to notify them of the breach. It may be purchased and added to a business insurance policy.
ERIE® insurance products and services are provided by one or more of the following insurers: Erie Insurance Exchange, Erie Insurance Company, Erie Insurance Property & Casualty Company, Flagship City Insurance Company and Erie Family Life Insurance Company (home offices: Erie, Pennsylvania) or Erie Insurance Company of New York (home office: Rochester, New York). The companies within the Erie Insurance Group are not licensed to operate in all states. Refer to the company licensure and states of operation information.
The insurance products and rates, if applicable, described in this blog are in effect as of January 2024 and may be changed at any time.
Insurance products are subject to terms, conditions and exclusions not described in this blog. The policy contains the specific details of the coverages, terms, conditions and exclusions.
The insurance products and services described in this blog are not offered in all states. ERIE life insurance and annuity products are not available in New York. ERIE Medicare supplement products are not available in the District of Columbia or New York. ERIE long term care products are not available in the District of Columbia and New York.
Eligibility will be determined at the time of application based upon applicable underwriting guidelines and rules in effect at that time.
Your ERIE agent can offer you practical guidance and answer questions you may have before you buy.
Posted on 14 July 2024 | 9:00 pm
Do I Need Multi-State Car Insurance for Out-of-State Coverage?
If you frequently travel or stay out of state, whether for business or by lifestyle choice, you may have noted the subtle — and sometimes not-so-subtle — differences in driving styles and conditions between states.
Exploring new states should be fun and seamless. But we’ve all heard the stories of that one experience that’s unforgettable for all the wrong reasons, especially when it happens during the holidays. There’s nothing like a near miss when you’re driving far from home to prompt the question:
“Do I need multi-state car insurance coverage?”
While in most cases, the answer to that question is “no,” there may be times when it is appropriate. So, let’s look at multi-state insurance to learn when you may need additional coverage.
How Does Car Insurance Work When Traveling?
The easiest way to think about your insurance is to imagine it as your shadow: wherever you go, it follows you. The home state where you register your car doesn’t change when you travel, so neither does your insurance.
Of course, different states require different insurance coverage, or in some cases, none at all. But, as long as you insure your car in the state where you live, interstate travel will not affect your coverage.
An important thing to keep in mind, though, is that different states have different requirements for showing proof of insurance if you are pulled over. Even if you’re not required to carry your proof in your home state, you may be expected to produce it during a traffic stop in another. Failure to have it handy could be costly.
It is also important to note that if you become subject to a motor vehicle incident that leads to that state’s laws imposing insurance requirements that are greater than what your policy provides, then your policy will automatically be increased to meet the minimum amount of liability coverage required by that state’s law.
Can I Have Car Insurance in Another State?
While it’s less common, there are two scenarios when out-of-state car insurance is appropriate.
The first is if you live in one state but work in another and you keep a different vehicle at work. Insurance is generally established by where the car is. So, the car you keep at home would have one policy and the work car would be insured in the state where you work.
The second scenario is one in which you own another home out of state.
If you keep a car in your primary home state and another at your secondary home in a different state, you will need two policies — one for each vehicle. These policies are completely independent of one another. The policy on one car would not cover the other and vice-versa. A single car cannot be covered by two different policies.
What if I Move to a New State?
In the event you relocate your primary residence from one state to another, that is a different matter altogether.
Remember, insurance is determined based on where the car is. If you bring your car with you when you move (as opposed to leaving a work car behind, for example), you will be required to register and insure your motor vehicle in your new home state based on the insurance requirements of that locality.
Once that vehicle is insured in the new state, the same rules apply: your insurance goes wherever you do.
What if I Spend Winter in Another State?
If you like spending the winter in the sun instead of the snow, you are subject to what’s known as the “snowbird” rule or exception.
Even though you’re actually residing somewhere else during the winter, it’s temporary. Your insurer generally recognizes this is a temporary relocation and your policy doesn’t change as a result.
As always, though, keep your insurance agent informed about any long-term changes so they can help keep your policy current. A great option is roadside assistance coverage to make sure you’re never in a jam while you’re on the road.
Stay Covered, Near and Far
No matter if you’re out of town on a weekend getaway, or soaking up the sun to dodge the winter chill, good auto insurance is just good sense. Talk to a local ERIE agent today to make sure you’ve got the peace of mind to enjoy your away-time!
ERIE® insurance products and services are provided by one or more of the following insurers: Erie Insurance Exchange, Erie Insurance Company, Erie Insurance Property & Casualty Company, Flagship City Insurance Company and Erie Family Life Insurance Company (home offices: Erie, Pennsylvania) or Erie Insurance Company of New York (home office: Rochester, New York). The companies within the Erie Insurance Group are not licensed to operate in all states. Refer to the company licensure and states of operation information.
The insurance products and rates, if applicable, described in this blog are in effect as of January 2024 and may be changed at any time.
Insurance products are subject to terms, conditions and exclusions not described in this blog. The policy contains the specific details of the coverages, terms, conditions and exclusions.
The insurance products and services described in this blog are not offered in all states. ERIE life insurance and annuity products are not available in New York. ERIE Medicare supplement products are not available in the District of Columbia or New York. ERIE long term care products are not available in the District of Columbia and New York.
Eligibility will be determined at the time of application based upon applicable underwriting guidelines and rules in effect at that time.
Your ERIE agent can offer you practical guidance and answer questions you may have before you buy.
Posted on 12 July 2024 | 9:00 pm
How Much Does Home Insurance Cost?
You’ve negotiated a good deal on your new dream home.
It’s in the perfect neighborhood, and in great shape. Even better, those monthly mortgage payments won’t stop you from going out to a nice dinner occasionally or even heading off on vacation. Everything is perfect.
But hold on. Did you factor in the cost of homeowners insurance? Thankfully, the cost of homeowners insurance typically doesn’t have a big enough impact that you end up stuck inside your new home. Still, it is extremely important to factor in insurance costs to figure out what’s right for your situation—and your budget.
Of course, lenders almost always require homeowners insurance before signing off on the loan. And even if you’re fortunate enough to not need a loan, you’ll need good insurance to protect your investment.
So, you know you need it, but how much are you going to pay for it? According to Realtor.com, the average annual premium costs about $1,900.
But depending on your situation you could pay more or less than average. Just how much relies on several factors that we will explore – including your deductible, the value of your home and belongings, your history of claims, and other variables such as the cost and age of your home.
Selecting the Right Deductible for You
Your deductible is one key factor in how much you will pay. If you select a policy with a high deductible, the annual cost for your insurance policy should be lower. Of course, when you go to make a claim, you will pay more out of pocket to meet that deductible. Conversely, if you pick a lower deductible, the cost of your insurance will be higher, but you won’t suffer sticker shock when it comes time to put in that claim. Figuring out your household expense (and entertainment) budget is one way to decide on whether to go with a higher or lower deductible. Whatever deductible you choose, it’s a smart idea to have that amount stashed away in your emergency fund so you’re financially prepared in case you need to file a claim.
How Much Coverage is Enough?
While we’re focusing on the actual cost of homeowners insurance, it’s essential that you get the right amount of coverage. Specifically, you need enough insurance that would allow you to rebuild your home in the event of a total loss. In other words, don’t pinch pennies by choosing a lower limit that will hurt you in the event of a catastrophe.
Ask your agent about replacement cost versus actual cash value. Replacement cost is typically the way to go because you could rebuild after a major loss without concern for depreciation. And for added protection, ask your agent about ERIE’s guaranteed replacement cost.
Home Improvements Could Affect Cost (and Limits)
Is your new home going to be move-in ready, or a fixer-upper? If you are planning on doing major upgrades to your home that will boost its value, keep in mind that the cost to insure it will likely rise, as well. If and when you do a home improvement project, report that to your insurance company so they can adjust the limit, if necessary.
If your ‘home improvement’ project is the result of major damage to your home… make sure you have what’s known as “loss of use” coverage. That coverage can reimburse you for hotel costs or apartment rental if your home is a total loss or becomes uninhabitable after a covered loss.
Make Sure You Have Enough Liability Coverage
Lawsuits are pretty common these days and can be extremely costly. That’s why you should make sure you buy an appropriate amount of coverage. When you buy homeowners liability coverage, you’re investing in peace of mind. Homeowners liability coverage protects your assets in case someone gets hurt on your property. You might not realize this, but it also provides coverage for some incidents away from the home. You might also want to consider a Personal Catastrophe Liability policy, which adds another $1 million to $5 million in liability coverage to your homeowners as well as your auto coverage.
The Value of Your Home and Your Possessions
It’s a pretty simple formula – if your home costs more, you’re going to pay more to insure it. You need a good, solid assessment of your home’s worth. It also helps to estimate the value of your personal possessions through a home inventory. While it might seem daunting, creating a home inventory is easier than you think.
Also, you might want to consider an appraisal for high-value belongings and talk to your insurance agent to see if you should consider any supplemental coverages to make sure your valuables are properly covered. Learn more about personal valuables insurance from ERIE.
Your History of Claims
When it comes to insurance, your past can influence your future. How much you pay for homeowners insurance can be significantly affected by how many claims you’ve made previously. It stands to reason that homeowners with fewer claims would pay less, and those with more claims would pay more. Those with more claims are proven to be a higher risk for insurers.
Geography
Geography — as it relates to frequency of natural disasters — also plays a role in your costs. If your home is near an area that is prone to hurricanes, tornadoes or forest fires, to name some examples, your homeowners insurance is going to be more expensive. Learn more about how named storms affect your insurance coverage.
Customize Your Coverage With Endorsements
Think of endorsements as added options to customize your policy, and at ERIE, we have a bunch.1 For example:
- Extended Water2: This endorsement brings peace of mind by covering water events such as backup of sewers, drains (separate Water Backup endorsement required in North Carolina) or floods, which also include inland flooding, tidal water, storm surge or mudflow and mudslide.
- Identity Recovery Coverage: Add on this coverage for a low annual fee to help restore your credit in the event of identity theft or fraud. You’ll also get your own dedicated case manager who will walk you through the process step-by-step. Learn more about identity recovery coverage from ERIE.
Available endorsements differ by policy and state, so check with your ERIE agent about which ones are the best fit for you and how much they’d cost to add on.
What Else Can Affect the Price of My Homeowners Insurance?
There are several other factors that could influence how much you pay for homeowners insurance.
- The age and condition of your home: Owning a newer home may cost less to insure than a similarly priced older home as it is likely outfitted with newer equipment and more modern safety features. The condition of older homes can be pretty wide ranging, and includes the roof, pipes, heating system and electrical wiring. It’s important to note that equipment breakdowns are typically not covered by homeowners insurance, however damage caused by a breakdown is covered in some instances.
- Your credit score, age and other personal information: No surprise here: A higher credit score usually results in a lower rate.
- Recreational and potentially risky amenities: Some features, such as a swimming pool, signal potential risk for insurers, and your premium could reflect that.
How Can I Save Money on My Home Insurance?
You could reduce the amount of your premium if you have security features such as a security alarm system, carbon monoxide detectors and smoke alarms. Check with an insurance professional like your local ERIE agent about potential discounts.
What's a Good Price for Home Insurance?
Shopping for insurance solely on price can end up being a costly mistake. You should compare costs of homeowners insurance, while making sure you have a clear understanding of what each insurer is covering. A great deal isn’t so great if you end up shelling out a lot more money in the event of a major claim.
And after you’ve done your research and assessed your specific needs, you should be worry-free enough to relax and enjoy your new home knowing you’re covered with the right insurance at the right price. Learn more about homeowners insurance from ERIE and request a free quote online.
ERIE® insurance products and services are provided by one or more of the following insurers: Erie Insurance Exchange, Erie Insurance Company, Erie Insurance Property & Casualty Company, Flagship City Insurance Company and Erie Family Life Insurance Company (home offices: Erie, Pennsylvania) or Erie Insurance Company of New York (home office: Rochester, New York). The companies within the Erie Insurance Group are not licensed to operate in all states. Refer to the company licensure and states of operation information.
The insurance products and rates, if applicable, described in this blog are in effect as of January 2024 and may be changed at any time.
Insurance products are subject to terms, conditions and exclusions not described in this blog. The policy contains the specific details of the coverages, terms, conditions and exclusions.
The insurance products and services described in this blog are not offered in all states. ERIE life insurance and annuity products are not available in New York. ERIE Medicare supplement products are not available in the District of Columbia or New York. ERIE long term care products are not available in the District of Columbia and New York.
Eligibility will be determined at the time of application based upon applicable underwriting guidelines and rules in effect at that time.
Your ERIE agent can offer you practical guidance and answer questions you may have before you buy.
Posted on 11 July 2024 | 9:00 pm
Does Auto Insurance Cover Stolen Cars?
Everyone knows auto insurance is there to help when your vehicle’s been damaged. But what happens when all you’re left with is an empty parking spot?
According to the Insurance Information Institute, around 1 million vehicles are stolen in the United States every year. And compared to an auto accident or weather damage, a stolen car raises more questions than answers. How do I file a claim? Will I ever get my car back? If it’s totaled, when I do see it again?
Relax and take a deep breath. Because we’re here to explain how auto insurance can help cover you if someone steals your ride.
Is Theft Covered by Car Insurance?
Similar to hail damage or vandalism, car theft is considered a non-collision event. That means comprehensive insurance can help cover the cost of your stolen car — whether or not it's recovered – minus your deductible.
Unlike auto liability coverage, comprehensive coverage is optional if you own your vehicle outright. If you have a loan on your car, chances are your lender requires collision and comprehensive insurance. But regardless of whether or not it’s required by your lender, comprehensive coverage is the best way to ensure you’ll be protected in the event your car is stolen.
Will Comprehensive Insurance Replace My Stolen Vehicle?
Stolen vehicle claims are treated similarly to a total loss from an auto accident. Comprehensive insurance can provide protection up to the actual cash value (ACV) of your vehicle, less your deductible. The ACV represents your car’s current, depreciated market value — not the price you paid for it.
Still owe money on your vehicle? Since the cash payout for a stolen car is based on its actual cash value – not the amount you have left on your car loan – you could be in a tough spot if your car is worth less than you owe.
That’s where ERIE’s Auto Security Coverage Endorsement* can help, by making up the difference between your insurance settlement and the remaining loan principal. (Ask your local agent for details and availability in your state.)
What Happens if Your Car is Recovered?
It’s important that you promptly report the theft to the police and to ERIE. If your car is found, a claims adjuster will assess the damage and determine the cost of repairing it.
Comprehensive coverage can help pay for the damage done to your car while it was out of your possession, minus your deductible. If it’s deemed a total loss, you’ll receive the actual cash value of your car minus your deductible.
Am I Covered for a Rental Car?
Rental car coverage can help pay for a rental car while you don’t have access to yours after a covered loss. But you should always ask your agent how many days a rental will be covered under your policy.
If you’re an ERIE customer, our comprehensive coverage includes basic rental car coverage for covered losses such as car theft. Basic rental coverage provides a compact sedan rental car, and a larger vehicle can be selected if you purchase additional coverage.
This coverage varies by state, so ask your insurance agent about rental car coverage before you’re in a situation where you need it. In most states, you’re covered for a rental for up to 45 days. (Virginia and North Carolina work differently.) Learn more about auto insurance and car rentals.
How to Prevent Car Theft
Any way you look at it, dealing with a stolen vehicle is a major hassle. Wouldn't it be easier to avoid the headaches in the first place?
More often than not, car thieves are looking for easy targets. So the more deterrents you put between them and your car, the more likely they are to avoid the risk.
Here a few quick tips to help keep criminals at bay:
- Protect your keys. Many thefts happen because of driver error, like leaving your keys in the car. Thousands of vehicles are stolen with the owner's keys each year, so it’s more common than one might think. Never leave your keys in the vehicle. And remember to store them out of sight whenever possible.
- Lock it up. When it comes to car theft, half the battle is getting inside. And an unlocked car gives criminals easy entry to the driver’s seat. Every time you reach your destination, roll up the windows, shut off the engine and lock the door. That way, if a criminal does target your car, they’ll have to work harder to take it for a spin.
- Buy a car alarm. A blaring car alarm is usually enough to raise suspicion, especially if the person in the front seat is struggling to turn it off. Install an alarm to draw attention to your car when it’s broken into. As a bonus, anti-theft devices like a car alarm may also lower your insurance rate.
- Park carefully. A dark, non-secure area is perfect cover for car thieves. If you park on the street or in a parking lot, choose a well-lit spot to make suspects easily visible. Park in a garage if possible to help protect your car from the dangers outside.
- Utilize anti-theft devices. Invest in a system that keeps your car from starting or the wheel from turning, such as immobilizers, wheel locks and fuse cut-offs. Some are more expensive than others, but most criminals won’t waste time figuring out how to steal the car and risk getting caught.
- Hide your valuables. Sometimes cars are targeted not because of how nice the vehicle is, but because of what’s inside. If you have anything of value in your car, always keep it out of sight.
What to Do if Your Car is Stolen
Although you can reduce the chances of car theft immensely, there’s always a chance your vehicle could be stolen. Here’s what to do when you find an empty spot where you parked your car:
- Contact the police. Upon discovering your vehicle has been stolen, call the police immediately. Tell them everything you can about your car, from the make and model to the vehicle identification number (VIN) and any identifying features, like bumper stickers. Make sure your response is honest and detailed.
- Call your local ERIE agent. Your agent is here to help untangle the knots and restore balance after something unexpected happens. He or she can also talk you through the process of filing an insurance claim. When filing a claim, it helps to have as much information to share as possible, such as where your vehicle was stolen and where any spare keys are kept. You should also provide your leasing or financing company’s contact information and a copy of the police report.
- Call your lender. If your car isn’t paid off, contact your leasing or financing company. Once the claim has been processed, your insurance company will pay the lender directly. Ask your lender to contact your insurer if there’s any confusion.
Get Back on the Road
Car thieves may steal your wheels, but they don’t have to take your peace of mind. At ERIE, our commitment to you extends beyond your auto policy. Your protection means restoring your life after a claim and giving you personal, forward-looking service, too.
Contact your local ERIE insurance agent to help restore what was lost and get back to your life.
*Vehicle is considered new when less than two years old. Eligible vehicles must carry both comprehensive and collision coverage and replacement must be made with a comparable model. The endorsement is sold on a per vehicle basis, not per policy and contains the specific details of the coverages, terms, conditions and exclusions. New vehicle replacement and better vehicle replacement do not apply to leased vehicles. When payment is made under new vehicle replacement or better vehicle replacement, auto lease/loan coverage will not apply. Coverage is not available in all states. Insurance products are subject to terms, conditions and exclusions not described here. Coverage does not include items such as overdue payments and carry-over balances from previous leases/loans, etc. Ask your agent for details.
ERIE® insurance products and services are provided by one or more of the following insurers: Erie Insurance Exchange, Erie Insurance Company, Erie Insurance Property & Casualty Company, Flagship City Insurance Company and Erie Family Life Insurance Company (home offices: Erie, Pennsylvania) or Erie Insurance Company of New York (home office: Rochester, New York). The companies within the Erie Insurance Group are not licensed to operate in all states. Refer to the company licensure and states of operation information.
The insurance products and rates, if applicable, described in this blog are in effect as of January 2024 and may be changed at any time.
Insurance products are subject to terms, conditions and exclusions not described in this blog. The policy contains the specific details of the coverages, terms, conditions and exclusions.
The insurance products and services described in this blog are not offered in all states. ERIE life insurance and annuity products are not available in New York. ERIE Medicare supplement products are not available in the District of Columbia or New York. ERIE long term care products are not available in the District of Columbia and New York.
Eligibility will be determined at the time of application based upon applicable underwriting guidelines and rules in effect at that time.
Your ERIE agent can offer you practical guidance and answer questions you may have before you buy.
Posted on 10 July 2024 | 9:00 pm